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Jun 30, 2022
Warrior Met Coal Q2 2022 Earnings Report
Achieved record quarterly net income and all-time record adjusted EBITDA and cash flows.
Key Takeaways
Warrior Met Coal reported a record-setting second quarter in 2022, achieving a net income of $297.0 million, an all-time record Adjusted EBITDA of $431.2 million, and record cash flows. The company benefited from its premium met coal assets and efficient business model, capitalizing on strong demand and high prices.
Reported net income of $297.0 million, or $5.74 per diluted share, compared to a net loss of $4.7 million in Q2 2021.
Achieved an all-time record Adjusted EBITDA of $431.2 million, compared to $65.2 million in Q2 2021.
Total revenues were $625.2 million, including $623.3 million in mining revenues, compared to $227.4 million in Q2 2021.
Generated record cash flows of $329.6 million from operating activities, compared to $68.7 million in Q2 2021.
Forward Guidance
Warrior Met Coal updated its guidance for the full year 2022.
Positive Outlook
- Coal sales between 5.5 and 6.5 million short tons.
- Coal production between 5.5 and 6.5 million short tons.
- Capital expenditures between $185 and $200 million.
- Mine development costs between $30 and $40 million.
- Selling, general and administrative expenses between $48 and $52 million.
Challenges Ahead
- Two planned longwall moves (Q3, Q4).
- HCC index pricing.
- Exclusion of other non-recurring costs.
- New labor contract.
- Inflationary pressures.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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